Congoleum To File New Chapter 11 Plan

Law360, New York (March 2, 2006, 12:00 AM EST) -- Congoleum Corp. intends to file a new reorganization plan on March 17 that will request a New Jersey state court to stop litigation against its insurance companies so that a vote can be made on the plan.

The company has already dealt with disputes with some of its insurers who will contribute to a trust fund, which was established under the Chapter 11 plan to compensate individuals who have been harmed by its asbestos products.

But other insurers contend that the company’s plan allows asbestos claimants...
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